Brands are getting competitive, and for most startups, competing with multinational companies in digitizing and advancing their business may seem like a tough challenge to overcome. However, with the proper tools and resources, even small startups can launch their business into the future, and stabilize their position in the market.
The future holds various technological and idealistic challenges for startups, with top companies moving into AI technology, pioneering new ideals, and getting into the metaverse. What’s a small company to do to compete with these?
Thankfully, there are simple and cost-effective ways to get ahead of the market. While startups may not be able to get VR graphics or complex graphics in a snap, there are ways to integrate futuristic technology and ideals to small businesses.
1. Be environmentally friendly
A timeless movement, being environmentally friendly is one key way to launch a startup. In fact, 78% of consumers would already be drawn to a brand for its environmentally friendly face. Going green is not only an idea we are bringing into the future, but it is also a movement that is essential to our lives on earth.
Simply put, considering the way your business impacts the environment is already a way to drive your business out of the past and into futuristic ideals that concern not only the business, but your carbon footprint.
2. Choose sustainable products
In line with keeping eco-friendly, choosing sustainable products and materials is bringing us closer to nature, while bringing our businesses into the future. Futurism doesn’t just refer to technologies and digital advancements, but also ensuring that we have a future to look forward to as we battle the effects of climate change.
Sustainable products, like cornstarch plastic, biofuel, and aluminum bottles present improved alternatives for the usual plastic and petroleum products that we’re used to. Recycled aluminum, for one, uses up only 5% of the energy it takes to mine new aluminum, and is more likely to be reused than plastic or glass bottles. Around 70% of aluminum we currently have is recycled, too!
Plastic bottles make up the majority of materials in landfills, and the oceans are littered with microplastic particles that destroy natural resources. Without a future to look towards, how can you launch your business into the future? Sustainable business practices are the key to keeping your business beyond the 21st century!
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3. Connect with your consumers
Connecting with your customers has been a well-known marketing strategy since business was conceptualized, but with the rise in social media and technologies today, connecting with consumers has never been more accessible to all types of businesses – small to large-scale. Digitization made it possible for companies to engage with their customers better and faster.
Take note of your consumer reviews when you make improvements to your brand, and treat feedback as constructive advice that can help you find out where your business is going. Additionally, connect with your customers through conversations and threads that will bring brand awareness to your business.
4. Use analytics tools for your performance
Analytics tools used to be expensive, reserved only for big companies who can afford to study their market and competitors. With the entry of convenient, user-friendly, and cost-effective analytics tools like Google Analytics, Rakuten Statistics, and Facebook Analytics, even early-stage startups can already get a feel of their market without shelling out a huge budget!
Know your competitors, and what they’re doing to keep their business up to date with the current era. Know your consumers, and view what makes them more likely to buy from a new brand. Find out what makes a startup up and coming, and more through accessible and accurate analytics tools!
5. Go digital with an eCommerce platform
In the digitized world, having an eCommerce platform is a basic requirement for any business that wants to stay afloat in the ever-changing market. Business websites and eCommerce sites used to be for established companies that can code their own platforms, but now that online marketplaces have been the go-to sites for consumers, even micro-companies can access.
Stabilizing your Brand
Landing in the future might seem intimidating for small businesses, but it is essential for business owners to think about the future of their companies, and figure out how to keep their market standing and stabilize their brand.
More and more startups establish each year, and only a handful make it to their 5th year in the highly-competitive market. Integrating advancements into your business ensures that your brand stays within the minds of consumers.